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Lists, Listings, and Liabilities

“Can’t afford him…
Can’t afford him…
Can’t afford him either…”

“Obsessed!”

“It’s about the Rangers Sevco!”

“Why don’t you concentrate on your own team?”

Right, now we have got that out of the way…

Morning all!

So Stuart McCall has a list of potential signings for Sevco next season! This being Sevconia, it can’t just be a list. It’s a “dossier” or “portfolio”. Presumably it also jetted in from somewhere? The realms of fantasy, maybe?

http://sport.stv.tv/football/clubs/rangers/318368-mccall-compiling-dossier-of-rangers-transfer-targets-for-next-season/

Seasoned observers instantly expressed doubts about these potential signings, relying on the crazy theory that Sevco have absolutely no cash.

Ally McCoist with an equally convincing list of players...
Ally McCoist, with an equally convincing list of players…

This season ticket-trailing guff didn’t stretch to linking Sevco with any actual players in the real world, but McCall assures us that

“I’ve been speaking to a lot of agents and putting things in place for if and when… I’m getting players put to me who would like to come to Rangers”

Hi Nacho!
Hi Nacho!

There was no word on the fate of the nearly out-of-contract glitterati currently in the dressing room, but I am sure they will be delighted to hear about the search for fresh talent…

McCall came out with one particular belter which raised a smile…

I don’t think we are at the stage where we were 10 or 15 years ago where we were aiming to get into the Champions League and bringing players in for three and four million yet

Just as well Stuart. Rangers couldn’t afford them then, and I am not sure that potential creditors are up for a repeat performance by the Tribute Act…

Yesterday, the Rangers Supporters Loyal website carried a report that the ISDX had refused RIFC a listing, and it includes some great lines.

https://rangerssupportersloyal.wordpress.com/2015/04/24/no-isdx-for-rangers/

We certainly seem to have come a long way from those pre-EGM indications that the new regime had a Nomad lined up to help maintain the AIM listing. However, anyone fearing the worst had their concerns reduced to at least Level 5 by Paul Murray’s soothing comments quoted in the Herald this morning.

http://www.heraldscotland.com/news/home-news/rangers-yet-to-apply-for-admission-to-alternative-stock-market-after-aim-delisting.124275803

Whether the comments came to Martin Williams from the Bridge of the Holding Company, or the beating heart of the Engine Room Subsidiary remains unconfirmed…

Looking for an upbeat Sevco story to send to the Herald...
Looking for an upbeat Sevco story to send to the Herald…

Apparently the “club” [OUCH! You slipped up there, Martin…] is yet to apply for listing, blaming the delay on “the fact it has not yet found an advisor needed to sponsor its admission to the exchange“.

Anyone expecting a ‘someone else’s fault’ punchline for the first time in the entire Sevco saga was not to be disappointed. Apparently Sevco had asked for an extension to the AIM listing so they could be fast-tracked across to the ISDX, but, in Paul Murray’s words…

In their wisdom the AIM Regulation team refused to grant this extension and the Company’s shares were delisted on April 7.”

This apparently results in having to go through “the consuming and costly route of applying for admission, which can take two months or longer“.

Presumably the ISDX are still – as Paul Murray previously said – “keen to have us“? I am certainly glad that the issue can’t be the ISDX’s requirement for companies to have least 12 months’ working capital…

You would have been forgiven for wondering if a war chest-sized amount of working capital would be a problem given the outstanding £5m loan from Sports Direct, and the £1.5m borrowed from the Three Bears.

Oh, and the other £1.5m that Roddy Forsyth tells us the Three Bears are about to…errr… pony up to pay the wages on 30 April.

http://www.telegraph.co.uk/sport/football/teams/rangers/11562357/Rangers-news-Mike-Ashley-takes-on-SFA-over-7500-fine-for-dual-ownership.html

So that’s £8m of debt, encumbered assets, and limited retail income before a single new player is brought in, or a speck of rust is removed from the Crumbledome.

Still, maybe the season ticket sales will be astronomical, and maybe Dave King will pump money in…

Finally in Sevconia (for now…), Roddy Forsyth tells us that Mike Ashley is gearing up to challenge his ‘punishment’ over the recent Dual Ownership charge. £7,500 certainly won’t have stung him financially, so it seems he either wants to give the SFA a bloody nose, or test their resolve over those rules ‘just in case’ his position at Sevco happens to strengthen in future.

His Big Mikeness expresses his appreciation of the SFA
His Big Mikeness expresses his appreciation of the SFA
Either way, the prospect of His Big Mikeness deploying an army of QCs to put the wind up the SFA is one to savour…

Have a good day and #KeepOnClumping
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